Russian Gazprom's deal with Iran could prompt further cooperation
![A huge banner bearing portraits of Iran's supreme leader Ayatollah Ali Khamenei (L) and his predecessor, the founder of the Islamic republic, Ayatollah Ruhollah Khomeini (R), is seen on a building being constructed at phase 15 and 16 of South Pars gas field development in the southern Iranian port town of Asaluyeh on July 19, 2010 as a top official announced that global energy majors are welcome to help develop oil and gas projects in Iran despite new sanctions imposed on the Islamic republic. AFP PHOTO/ATT](/sites/default/files/styles/article_hero_medium/public/2022-07/GettyImages-102978125.jpg?h=a5ae579a&itok=_Hj0cADf)
To:
Al-Monitor PRO Members
From:
Dr. Bijan Khajehpour
Managing Partner, Eurasian Nexus Partners, Vienna, Austria
Date:
July 28, 2022
Bottom Line:
The memorandum of understanding worth about $40 billion signed between Russia’s Gazprom and the National Iranian Oil Company (NIOC) last week is not going to lead to massive Russian investments in the Iranian gas sector, but it has the potential to create paths of cooperation and bring the two gas giants closer to each other.